On April 25 (Friday), the International Lead and Zinc Study Group (ILZSG) stated that the global markets for refined zinc and refined lead would face a supply surplus in 2025.
The group estimated that global refined lead supply would exceed demand by 82,000 mt, while global refined zinc supply would exceed demand by 93,000 mt in 2025.
ILZSG reported that global refined lead demand was expected to increase by 1.5% to 13.19 million mt in 2025. Global lead mine production was expected to increase by 2.3% to 4.62 million mt. Global refined lead production was expected to increase by 1.9% to 13.27 million mt, driven by increased production in China, India, Mexico, and the US.
Global refined zinc demand was expected to increase by 1% to 13.64 million mt in 2025. Global refined zinc production was expected to increase by 1.8% to 13.73 million mt, benefiting from increased concentrate supply.
ILZSG stated that zinc mine production had declined over the past three years due to planned and unforeseen mine closures, but production was expected to increase by 4.3% to 12.43 million mt in 2025.
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